Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Wooster Square Two-Family Home Title is generated by Realmo AI

    45 Lyon St, New Haven, CT 06511

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $699,500

    Well-maintained two-family home in desirable Wooster Square neighborhood.

    Type:Multi Family
    Lot size:
    0.14 Acres
    Added:
    Mar 25, 2026
    Days on Market:
    58
    Last Refresh:
    Mar 24 at 6:28 am

    Property Features for 45 Lyon St

    General Information

    Standard status
    Active
    Lot size
    0.14 Acres
    Property subtype
    Multi Family

    Building Details

    Year Built
    1900

    We can help!

    Listing Contact
    Betsy Grauer

    Listing agent Betsy Grauer

    Listing office

    Listing date Mar 25, 2026

    Source Elliman

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Betsy Grauer

    HighLights

    • Outstanding location: close to Yale, train station, Wooster Square, dining, and cultural attractions.
    • Two‑family home ideal for owner‑occupant or investor, eligible for Yale Homebuyer Program.
    • Large, sunny duplex unit (2nd and 3rd floors) with 3+ bedrooms and two full baths.
    • Updated and well‑maintained: newer vinyl siding, Thermopane windows, gas heating units, blown‑in insulation, and updated electric.
    • Laundry in both units and generously sized rooms filled with natural light.
    • New Trex deck with automatic awning roof overlooking a large backyard with a one‑car garage and patio area.

    Overview

    Located in the Wooster Square area of New Haven, this two-family home has been well-maintained and features numerous updates. The property includes newer vinyl siding, thermopane windows, gas heating units, blown-in insulation, and updated electric. The first floor comprises five rooms and can function as either a two- or three-bedroom apartment. The second and third floors combine to form a large, sunny duplex unit with three or more bedrooms and two full bathrooms. Both apartments feature kitchens in good condition and in-unit laundry. The rooms are generously sized and filled with natural light. A new Trex deck with an automatic awning roof overlooks a large backyard with a one-car garage and patio area. The property is suitable for either an owner-occupant or an investor and is eligible for the Yale Homebuyer Program. Situated on a quiet, tree-lined, one-way street, the location offers proximity to Yale, the train station, Wooster Square, and various dining and cultural attractions.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Law Firm Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Haven
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.9166976
    Latitude
    41.3089363

    Nearby Similar for Sale

    • $499,900
      2,634 SF

      Spacious Two-Family Home Opportunity

      Charming two-family home near Lighthouse Park with harbor views.
      338 Lighthouse Road, New Haven, CT 06512
      View Details
    • $550,000
      3,248 SF

      New Haven Two-Family Home

      Well-maintained two-family home in New Haven's Quinnipiac neighborhood.
      655 Quinnipiac Avenue, New Haven, CT 06513
      View Details
    • $975,000
      13,110 SF

      Westville Multifamily Investment Opportunity

      Spacious two-family in Westville near Yale Bowl.
      1955 Chapel Street, New Haven, CT 06515
      View Details
    • $2,575,000
      10,394 SF

      Updated Multifamily Portfolio in New Haven

      Well-maintained, fully rented 13-unit portfolio in Fair Haven Heights.
      83 E Grand Avenue, New Haven, CT 06513
      View Details
    • $2,575,000
      10,394 SF

      Updated Multifamily Portfolio in New Haven

      Well-maintained, fully rented 13-unit multifamily portfolio in New Haven.
      83 E Grand Avenue, New Haven, CT 06513
      View Details
    • $599,999
      3,604 SF

      New Haven Multifamily Investment Opportunity

      Spacious multi-family property near Yale, ideal for investors.
      437 Dixwell Avenue, New Haven, CT 06511
      View Details
    • $1,200,000
      5,736 SF

      Historic Mansion Converted to Multifamily

      Stately 1905 mansion with four units and historic details.
      600 Whitney Avenue, New Haven, CT 06511
      View Details
    • $599,000
      3,422 SF

      Spacious Multi-Family Home in Westville

      Charming 3-family home in New Haven's desirable Westville area.
      46 Dayton Street, New Haven, CT 06515
      View Details
    • $2,300,000
      15,230 SF

      Retail & Office Building Opportunity

      Well-maintained retail and office building in Wooster Square/Mill River.
      900 Grand Avenue, New Haven, CT 06511
      View Details
    • $370,000
      1,080 SF

      New Haven Commercial Building For Sale

      Freestanding commercial building with flexible-use space near Yale and Quinnipiac.
      515 Middletown Avenue, New Haven, CT 06513
      View Details
    • $499,990
      3,092 SF

      New Haven Investment Opportunity

      Three-family property in New Haven with over 3,000 sq ft.
      40 Shelter Street, New Haven, CT 06513
      View Details
    • $550,000
      3,744 SF

      New Haven Two-Unit Property

      Two-unit property with value-add potential in New Haven, CT.
      34 Cassius Street, New Haven, CT 06519
      View Details

    FAQs

    What type of property is this?
    Duplex - Well-maintained two-family home in desirable Wooster Square neighborhood.
    Where is this duplex located?
    The property is located at 45 Lyon St New Haven, CT.
    What is the asking price?
    The asking price for this property is $699,500.
    What are key features of this property?
    This property features: Outstanding location: close to Yale, train station, Wooster Square, dining, and cultural attractions.; Two‑family home ideal for owner‑occupant or investor, eligible for Yale Homebuyer Program.; **Large, sunny duplex unit (2nd and 3rd floors) with 3+ bedrooms and two full baths.**
    We can help!
    Listing Contact
    Betsy Grauer
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    45 Lyon St, New Haven, CT 06511
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!